VANCOUVER, British Columbia, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (“Redfund” or the “Company”) comments on Israel allowing the medical export of its products to global markets.
Since the 1990’s medical cannabis in Israel has been prescribed to patents with pain-related illnesses such as Parkinson´s, multiple sclerosis and other chronic pain and post-traumatic stress disorders. In April 2018 it was discussed that Israel would approve its first medical cannabis export of products such as capsules and oils but not raw marijuana. Many Israeli farmers applied for medical cannabis farming and marketing licenses expecting the reform to go through, but the gridlock has been exhausting for them. Israelis began to farm and develop cannabis companies outside the country.
The Israeli approval has been held up despite near unanimous support for the idea in the government. Today, it was announced that the medical cannabis bill will finally go on the Knesset agenda for first reading and the Minister of Public Security, Gilad Erdan and Internal Affairs and Environment Committee chairperson, Yoav Kisch (Likud) agreed to promote the bill.
Redfund has been compiling its final due diligence protocols around several already identified Israeli clients to become portfolio companies with a growth strategy into North America and Europe. One is a technology company which changes how medical cannabis is grown for medical cannabis patients, the next a medical products and CDB company, and the third an agricultural grow who has operations abroad and its research and development facilities in Israel.
Meris Kott, CEO of Redfund commented, “We are looking to Israel as our next country to forge strong relationships with for our banking initiatives. Israel has always led with a strong generic drug footprint. I am looking forward to working closely with partners in Israel in the very near future and capitalizing on current opportunities.”
About Redfund Capital
Redfund intends to provide debt and equity funding in the mid-to-late stages of a target company’s development, or in technologies that are developed and validated by revenues. The present focus of the merchant bank is on medical cannabis, hemp and CBD-related, healthcare-related target companies.
For further information please visit www.redfundcapital.com
For more information on Redfund Capital contact Meris Kott CEO 604.484.8989 or email@example.com
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.